Algem Weekly Dev Update – April 28th

Hey everyone, we are pleased to share updates with you regarding our latest developments in the realm of smart contracts and the UI.

Smart Contracts Progress

April 28, 2023

“With the latest updates we have changed the security approach in our contracts.

From now on, any contract modification (upgrades & selector management in LiquidStakingManager) can be performed only with the multi-sig wallet, which is 3/4 consensus, 2 signers from the Algem team, 2 signers from the Astar Core team.

Next, when it comes to the access control, we have DEFAULT_ADMIN_ROLE and MANAGER_ROLE for different purposes.

As always, the default admin is in charge of granting/revoking all other roles. Also the most sensitive calls are performed by the default admin, as they can greatly affect the protocol functionality.

Manager is needed for less crucial calls when it comes to settings needing to be changed.

In all our contracts, default admin is the multi-sig wallet described above and will not be changed. The Manager address is a regular wallet shared between the developers.

Full list of access controlled calls” — Danny, Algem smart-contract developer.

About Algem

Algem is a decentralized application built on the Astar Network and offers two main features: liquid staking and liquid lending. As their names suggest, these two options let ASTR holders keep their assets liquid while putting them to work. Also, the liquid staking and lending solutions let users use Algem’s liquid nASTR tokens across Astar’s Defi ecosystem to earn staking rewards and make more money. In doing so, Algem supports other Defi protocols by providing liquidity and creating a sustainable and cooperative ecosystem on the Astar Network and Polkadot.